Loan Details
Monthly Costs (Taxes & Fees)
How this mortgage calculator works
The calculator starts with the home price minus the down payment to estimate the starting loan principal. For a fixed-rate amortizing loan, it applies the standard monthly payment formula using the interest rate and loan term you enter.
The result then adds the monthly equivalents of the annual property-tax and homeowners-insurance values you enter, plus any monthly HOA dues and PMI amount.
What is included in the estimated monthly payment?
- Principal and interest: the scheduled payment on the loan amount using the entered rate and term.
- Property tax: the annual tax amount you enter divided by 12.
- Homeowners insurance: the annual premium you enter divided by 12.
- HOA and PMI: the monthly values you enter.
What this calculator cannot know automatically
Property taxes, insurance premiums, mortgage-insurance pricing, HOA dues, loan fees, points, lender credits, and escrow requirements vary by borrower and property. The default values on this page are examples, not current quotes or national guarantees.
The CFPB distinguishes principal-and-interest from the total monthly mortgage payment because taxes, insurance, and mortgage insurance can materially change the amount due each month. Use property-specific costs and a current lender quote when you are comparing an actual purchase.
How to get a more realistic estimate
- Use the price of the property you are considering.
- Enter the down payment you actually expect to make.
- Use the rate from a current lender quote or Loan Estimate rather than a cached “today” rate.
- Look up the property's actual tax bill or local tax estimate.
- Request an insurance estimate for the property.
- Add HOA dues and mortgage insurance if they apply.
Sources and methodology
- CFPB: Principal & interest vs. total monthly payment
- CFPB: Loan Estimate explainer
- MortgageCalculatorNow calculator methodology
Related planning tools
After estimating the payment, use the affordability calculator to compare it with income and debt, or the closing-cost calculator to estimate the upfront cash needed for a purchase.